KfW IPEX-Bank finances two Stena E-Flexers

2021-03-12T16:09:33+00:00 March 12th, 2021|Finance|

German KfW IPEX-Bank is to provide a $180 mill loan to finance two new Stena Line E-Flexer ropaxes.

The ships are among nine new vessels ordered by Stena from China Merchants Jinling Shipyard (Weihai).

Chinese export credit agency Sinosure covered the loan.

A significant part of the ferries’ equipment comes from German and other European suppliers.

Jinling has already delivered three E-Flexer types. The two new ships will be operated by Stena Line after their planned delivery in 2022 and can be deployed on a wide range of routes across Europe.

The new design, fitted with just two main engines instead of four, reduces fuel consumption by 25% and CO2 emissions accordingly. Operating at less than 18 knots, the ships can run on one engine.

“We are very pleased to support our long-standing and valued business partner Stena in purchasing the next generation of ropax ferries,” said Andreas Ufer, Member of the Management Board responsible at KfW IPEX-Bank.

“For us, this is another step on the path to environmentally friendly and sustainable passenger and freight transport by sea.”

The ferries are 238 m long and will have a capacity of around 1,200 people (pax and crew), 3,600 lane metres, plus 200 cars on special car decks.

Planned in at the design stage was an option to convert the ferries to methanol or LNG propulsion, as well as a possibility to convert to electric hybrid solutions.